Bank OZK (NASDAQ:OZK) Receives Consensus Recommendation of “Reduce” from Brokerages

Bank OZK (NASDAQ:OZK) has been given a consensus rating of “Reduce” by the eight analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $46.29.

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley reissued an “equal weight” rating and issued a $48.00 target price on shares of Bank OZK in a report on Monday, April 22nd. Truist Financial raised their price target on shares of Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday, April 22nd. Finally, Citigroup lowered shares of Bank OZK from a “buy” rating to a “sell” rating and cut their target price for the company from $57.00 to $37.00 in a research report on Wednesday, May 29th.

Institutional Trading of Bank OZK

A number of institutional investors and hedge funds have recently bought and sold shares of OZK. Tidal Investments LLC increased its position in Bank OZK by 4.0% during the 1st quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after purchasing an additional 210 shares during the period. Sowell Financial Services LLC increased its position in shares of Bank OZK by 2.3% during the fourth quarter. Sowell Financial Services LLC now owns 10,573 shares of the company’s stock worth $527,000 after buying an additional 236 shares during the period. Los Angeles Capital Management LLC raised its stake in Bank OZK by 2.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 11,374 shares of the company’s stock worth $567,000 after buying an additional 246 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in Bank OZK by 4.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,247 shares of the company’s stock valued at $311,000 after buying an additional 247 shares during the period. Finally, HB Wealth Management LLC boosted its position in Bank OZK by 3.9% during the first quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock valued at $300,000 after acquiring an additional 249 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

OZK stock opened at $47.08 on Friday. The company’s 50-day moving average price is $42.01 and its two-hundred day moving average price is $43.81. The firm has a market cap of $5.34 billion, a P/E ratio of 7.89 and a beta of 1.20. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 12 month low of $34.76 and a 12 month high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business had revenue of $416.78 million for the quarter, compared to analysts’ expectations of $414.39 million. During the same period last year, the firm posted $1.47 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Bank OZK will post 6.05 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s payout ratio is presently 26.80%.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.